Tanzania eyes trade boost with Belgium

DAR ES SALAAM: TANZANIA is looking forward to boosting trade with Belgium after it recently hosted representatives from 40 Belgian companies seeking trade and investment opportunities in the country.

Speaking in an interview on the sidelines of the Tanzania-Belgium Business Forum held on Monday in Dar es Salaam, Minister for Industry and Trade, Dr Sulemani Jafo, expressed optimism that the Belgian companies’ visit would significantly enhance bilateral trade and boost trade volumes.

He noted that the forum, which facilitated government-to-government discussions and business engagement, provided a platform for citizens of both countries to deepen collaboration and form partnerships in key economic sectors such as agriculture and trade.

The event brought together representatives from 40 Belgian companies and over 350 domestic firms, enabling them to discuss and explore business and investment opportunities in Tanzania.

“Tanzania offers tremendous investment opportunities in sectors such as minerals, tourism, fisheries and agriculture. This business forum allows Belgian investors to identify and capitalise on these opportunities,” Dr Jafo said.

He added that the forum aligns with the sixth phase government’s ambitious efforts to promote investment, achieve industrialisation, create jobs, foster technology transfer and drive the country’s economic development.

Dr Jafo highlighted that there is currently a trade imbalance between Dar es Salaam and Brussels, as Tanzania’s exports to Belgium exceed its imports from the European nation.

“In recent years, Tanzania has exported an average of over 180 million US dollar (477bn/-) annually, compared to imports from Belgium valued at approximately 115 million US dollar (305bn/-),” he explained.

Tanzania primarily exports agro-products such as coffee and tea, as well as minerals.

He emphasised that consistent business engagements are essential to strengthening economic cooperation, increasing trade and fostering people-to-people interactions.

The forum was co-organised by the Tanzania Investment Centre (TIC), the Ministry of Foreign Affairs and East African Cooperation, the Belgian Embassy in Tanzania and the Tanzania Private Sector Foundation (TPSF).

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Dr Jafo noted that after the forum, Belgian investors were scheduled to visit various regions in Tanzania identified as having strong investment potential.

Ambassador Extraordinary and Plenipotentiary to Belgium and the European Union (EU), Mr Jestas Nyamanga, stated that the total value of Belgian investments in Tanzania is over 400 million US dollar (1.06tri/-).

These investments span sectors such as tourism, minerals, real estate—including hotels—agriculture, logistics and minerals.

He also highlighted that nearly 98 per cent of Tanzania’s diamond exports are sold to Belgium.

Ambassador Nyamanga, who accompanied the Belgian delegation, explained that their visit aimed to explore new opportunities.

The Belgian delegation is scheduled to visit the Dar es Salaam port to observe developments made under the leadership of President Dr Samia Suluhu Hassan, which have significantly increased efficiency. Additionally, they are expected to visit Zanzibar.

TIC’s Foreign Investment Promotion Manager, Mr Daudi Riganda, remarked that Belgian investment in Tanzania remains relatively low, with Brussels investors injecting 2 billion US dollar (5.3tri/-) into 48 projects since 1997, creating 2,000 jobs.

However, he expressed confidence that this year’s forum in Dar es Salaam would attract more Belgian investors.

“We anticipate this forum will open more doors for Belgian companies to invest in our country,” Mr Riganda said.

He noted that some companies have already shown interest in investing in sectors such as construction, renewable energy and the blue economy.

Belgium’s Ambassador to Tanzania, Mr Peter Huyghebaert, emphasised that Tanzania still holds significant potential for doubling its trade volume with Belgium.

“There is a lot of fantastic potential. This forum enables us to explore what we can achieve together,” he stated.